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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ (709,561) $ (498,005) $ 242,385
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 70,447 48,651 42,621
Stock-based compensation expense 370,130 359,931 187,532
Amortization of right-of-use assets 57,579 55,507 31,024
Amortization of content assets 207,852 234,355 95,570
Foreign currency remeasurement (gains) losses 1,457 (8,230) 0
Change in fair value of Strategic Investment (4,348) 532 0
Impairment of assets 269,402 7,500 0
Provision for (recoveries of) doubtful accounts 1,674 2,081 (904)
Other items, net (1,510) (190) (101)
Changes in operating assets and liabilities:      
Accounts receivable (56,937) (10,887) (221,768)
Inventories 14,725 (56,471) 3,619
Prepaid expenses and other current assets 15,058 (15,941) (48,074)
Content assets and liabilities, net (267,155) (313,204) (193,440)
Other non-current assets (592) (7,304) (19,335)
Accounts payable 248,175 14,190 8,428
Accrued liabilities 57,714 167,526 128,931
Operating lease liabilities (27,786) (9,245) (20,083)
Other long-term liabilities (1,309) (403) (1,100)
Deferred revenue 10,841 41,402 (7,224)
Net cash provided by operating activities 255,856 11,795 228,081
Cash flows from investing activities:      
Purchases of property and equipment (82,619) (161,696) (40,041)
Acquisition of businesses, net of cash acquired 0 0 (136,778)
Purchase of Strategic Investment (10,000) (40,000) 0
Net cash used in investing activities (92,619) (201,696) (176,819)
Cash flows from financing activities:      
Repayments of borrowings (80,000) (10,000) (5,000)
Proceeds from equity issued under incentive plans 18,757 18,357 18,532
Proceeds from equity issued under at-the-market offerings, net of offering costs 0 0 989,615
Net cash (used in) provided by financing activities (61,243) 8,357 1,003,147
Net increase (decrease) in cash, cash equivalents and restricted cash 101,994 (181,544) 1,054,409
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,654 (4,170) 12
Cash, cash equivalents and restricted cash —Beginning of period 1,961,956 2,147,670 1,093,249
Cash, cash equivalents and restricted cash —End of period 2,066,604 1,961,956 2,147,670
Cash, cash equivalents and restricted cash at end of period:      
Cash and cash equivalents 2,025,891 1,961,956 2,146,043
Restricted cash, current 40,713 0 0
Restricted cash, non-current 0 0 1,627
Cash, cash equivalents and restricted cash —End of period 2,066,604 1,961,956 2,147,670
Supplemental disclosures of cash flow information:      
Cash paid for interest 915 3,894 2,578
Cash paid for income taxes 6,632 7,016 1,363
Supplemental disclosures of non-cash investing and financing activities:      
Non-cash consideration for business combination 0 0 21,400
Services to be received as part of a business combination 0 0 6,500
Unpaid portion of property and equipment purchases $ 429 $ 28,503 $ 3,073